Clorox (NYSE:CLX) on Friday reported that its fiscal-third quarter sales climbed 15% as consumer demand for its cleaning products soared in response to the coronavirus pandemic.
The company also raised its fiscal 2020 forecast.
Earnings per share for the quarter came in at $1.89, while revenues were $1.78 billion
Clorox reported fiscal third-quarter net income of $241 million, or $1.89 per share, up from $187 million, or $1.44 per share, a year earlier.
Net sales rose 15% to $1.78 billion. Organic sales jumped 17% in the quarter.
Wall Street anticipated earnings per share of $1.67 on revenue of $1.71 billion, based on a survey of analysts. However, it’s difficult to compare reported earnings to analyst estimates for Clorox’s quarter, as the coronavirus pandemic continues to hit global economies and makes earnings impact difficult to assess.
Clorox’s cleaning segment, which includes its namesake disinfectant wipes, bleach and Pine-Sol, saw sales growth of 32% in the quarter.
While consumer demand drove higher sales, the company also reported a spike in sales of its laundry and professional cleaning products.
The company’s lifestyle segment, which includes Hidden Valley Ranch and Brita water filters, reported sales growth of 10%. Sales of its dietary supplements lagged due to a supply disruption related to the coronavirus.
Clorox’s international sales grew 11% in the quarter. The company said every region saw double-digit volume growth, but a stronger dollar hurt sales by 11%.
Shares jumped $7.40, or 4%, to $193.84
